Spok’s 10% workforce cut targets $6 million in annual savings as leadership consolidates under COO-turned-CFO

Spok Holdings, Inc. is cutting approximately 10% of its workforce to reduce headcount-related and other operating expenses by over $6.0 million annually. The move shifts near-term costs into 2026, with restructuring charges expected to total $1.6 to $2.0 million, mostly in the second and third quarters, driven by severance and one-time employee benefits. Spok plans to exclude these charges from non-GAAP metrics like Adjusted EBITDA, preserving the appearance of operational stability in its adjusted results. As part of the realignment, Chief Operating Officer Michael W. Wallace has assumed the role of Chief Financial Officer, replacing Calvin C. Rice effective immediately. Despite the downsizing, the company emphasized ongoing investment in its Care Connect Suite and artificial intelligence initiatives, maintaining its quarterly dividend, which yields over 10% relative to the market.